Shared by
jmoscate_BOWS
Play: Triple tap
Was anticipating a break out. Had a very tight stop on it and was a no-go. More of a boredom trade as nothing was really going on.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-13 11:08:47 | CTIC | buy | $4.180 | long |
| 2014-03-13 11:08:48 | CTIC | buy | $4.175 | long |
| 2014-03-13 11:08:50 | CTIC | buy | $4.180 | long |
| 2014-03-13 11:28:09 | CTIC | sell | $4.140 | long |
| 2014-03-13 11:28:09 | CTIC | sell | $4.140 | long |
| 2014-03-13 11:28:09 | CTIC | sell | $4.140 | 0 |
Comments
jmoscate_BOWS
Nape_BOWS
The entry was not good because it was already up 4 green candles in a row.
The setup was hot for a triple tap breakout. But the overall market killed it.
Yes. As long as it wasn't to extended as it was breaking out. $4.25 is key level breakout.
Markmandy54
I think the entry was fine as it was at the apex of the pattern, it consolidated after a great run up, and daily pattern is getting close to B/O as well. But as Nape said, with no overall market participation, it's hard to expect a breakout.
Mark if he would have gotten in at the proper entry which was $4.14/.15 he could have just stop out flat worst case scenario as it fail on the third breakout attempt.
That's an impressive entry Nape, i dont' think i'd be able to catch it at that great of a sweet spot...working on it though.
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Lot of good setup were failing because the overall market was down.